Thoughts On Economics

During the 20th century, a number of economists more or less independently developed ideas associated with input-output analysis, activity ...

With characteristic cheerful carelessness, Noah Smith misinforms hapless Bloomberg readers: "Friedrich Hayek tried to argue agains...

Figure 1: Wage-Rate of Profits Frontier for Seven Countries This post reports on the analysis of wage-rate of profits frontiers drawn ...

A theme of this blog is that wages and employment are not determined by, and cannot be determined by, the interaction of well-behaved sup...

Figure 1: Wage Share versus Ratio of Rate of Profits 1.0 Introduction Consider the theory that Sraffa's standard system can be u...

I associate the Temporal Single System Interpretation (TSSI) of Marx's Capital most notably with Alan Freeman and Andrew Kliman. The T...

Table 1: Variations Across Countries 1.0 Introduction This post is an empirical exploration of a simple labor theory of value as a t...

The Maximum Rate Of Growth Around The World Consider a model of an economy in which all commodities are produced from inputs of labor...

This is a post about the University of Illinois at Urbana Champaign (UIUC) 1 . It is not about current events . In the late 1940s, UIUC a...

Figure 1: Labor Demanded Per Unit Output in a Stationary State 1.0 Introduction As a Sraffian, I have no problem with open models in...

Figure 1: Labor Demanded Per Unit Output in a Stationary State 1.0 Introduction This post illustrates the analysis of the choice of ...

Some time ago, I read Hobbes's Leviathan , a classic argument for the existence of a social contract. I recently became aware of the ex...

"Mathematics is a study which, when we start from its most familiar portions, may be pursued in either of two opposite directions. The...

The United States and many other countries are often said to have a "mixed economy". This term is supposed to locate the United S...

Paul Heideman reviews , for Jacobin , Philip Mirowski's book, Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Fi...

A Reproduction Scheme (Based on Biddard 1990) 1.0 Introduction One way of reading the Cambridge Capital Controversy (CCC) is an inte...